Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-11-25
RAILROAD MATTERS.
Plans of the New York and Boston Rapid
Transit COMPANY.

The New York and Boston Rapid Tran
sit company has issued a pamphlet to
stockholders, reviewing the work of the
past year, and closing with the announce
ment that The Rapid Transit company
is now ready to begin the construction of
the Boston and New York railroad. It is
to be double track road, graded for
third track. All bridges to be of stone
and brick, except where they must be of
iron. a solid road bed, with 10 inches of
stone ballast. No curves of more than
two degrees, which for purposes of
rapid transit is straight road. No cross,
ings at grade of highways or railroads.
Steel rails % per cent heavier than now
used on the best railroads in this country,
with ties prOpOrtiOnally large. The road
to be equipped with the best locomotives
and rolling stock that modern inventors
and manufacturers can supply. The
promise is held out that the road will be
completed within one year from the be-
ginning of construction. Names of prOmi-
uent capitalists who have Of late taken an
active interest in the project will soon be
given TO the public. Gov. Bodwell will
spend large part of his winter in the
work of putting construction under
way, aud Gov. Smith has already secured
subscriptions to the bonds to the amount
oi great many millions.
The proposed financial plan of the
Transit company and the profits to the
stockholders are expected TO be made as
follows: The New York and Boston rail
road will be capitalized at $4,000, 900, one
half stock and one half bonds. With the
bonds VIII be given a bonus of 20 per cent
OF stock. The Transit company VIII nom
ina!ly take all the bonds and stock of the
railroad company i'll pay fcr construction.
Having delivered the bonus of stock to
Dnn1hnlHRTG shares al n
tor distribution to the holders of 10 900
shares of Rapid Transit company stock.
Ihat holder Of one share of
Rapid Transit stock expects to
get 20 shares of railroad stock. When the
road is built, the value of the stock will
be problematical. But with the rapid in
crease of traffic on all of the roads of
southern New England, this direct line
ought To be profitable from the start,
The Fitchburg railroad will soon have
80 Ouble,decked cattle cars equipped with
the new Westinghouse air brake.
The directors of the Concord and Clare
mont railroad have consented, so far as
their road is concerned, to the recent bust
ness agreement made by the directors of
the Northern railroad with the Boston
and Maine.
For the convenience of those who ship
fruit and other perishable goods during
management have fitted up heated cars
which will be run from Boston TO all
points in New England under their con
troll
The annual report of the Boston and
Lowell for the year ending September 30
shows; Passenger earnings, $3.50 500
/ freight, s. S9j Sl3; miscellaneous, Sl03,-
910; gross earnings, S5,3l0,62S, an increase
of about 100000 over 1856 net earnings,
Sl,I9l $50; fixed charges, 81, l21 1903; bal
ance, 1868 SS1 dividends, Sl93, seq; sur
plus, sl1O35S.
The air in railroad circles is thick with
/ rumorS but ii is interesting to note that
| Rutland common recovered to in the
/ Boston market IL is rumored that the
inside parties to the deal in this road Sc
cure handsome price for their common
stock in addition 10 S45 for their preferred
stock holdings.
! "R!alto" in the Boston Advertiser says,
81 hear that the Fltchburg has acquired
control Of the Mouadnock road in New
Hampshire, President Phillips was Thurs
day elected a director"
The annual report of the Vermont and
| Massachusetts, railroad TO the railroad
commissioners shows income of $4,000
expenses, 5000 net, Sl9l $50, which was
paid out In per cent dividend upon the
capital stock of 50, 1913 900, The Fitch
burgh, which operates the road, paid
taxes and interest upon the funded debt OF
sl,0O0000.